LONDON, UK: RentGuarantor (AQSE: RGG), a provider of rent guarantee services to prospective tenants across the socio-economic spectrum wishing to rent property in the UK private rental sector, has entered into an agreement with Vorensys for the use of the RentGuarantor service.

Vorensys provides comprehensive UK tenant referencing solutions for letting agents and landlords, including white label tenant referencing services to insurers, software vendors and property management businesses.

Around 18,000 tenant reference applications are completed via Vorensys per year, with 10 per cent of those tenants expected to require a guarantor. Vorensys will be promoting the Company to all applicants requiring a guarantor during the tenant referencing process.

Paul Foy, CEO of RentGuarantor, said: “We are really looking forward to working with Vorensys in assisting with the development of end to end guarantee solutions for tenants, and will work closely together over the coming months to create the correct technology to effectively manage new relationships ahead of consumer launch.

“A recent survey conducted by RentGuarantor found that 38% of tenants would prefer to purchase a guarantor product as opposed to relying on a family member.

“I have no doubt that this partnership will assist both Tenant and Landlord in securing tenancy agreements and provide increased interest in our services.”

Adam Cheshire, Operations Director of Vorensys, said: “Vorensys is excited to announce this partnership with RentGuarantor, which will streamline the time taken to secure a reliable guarantor for our tenants and agents alike. Furthermore, RentGuarantor ensures that rent will be paid to landlords or agents without any arrears, providing valued security to tenancy agreements.”

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